PFS Investments Fires Sean Fields for Allegedly “Borrowing” Client Money

CONCORD, CALIFORNIA     Have you invested with financial advisor Sean Fields from Concord, California? In January 2024, he was fired by his brokerage firm, PFS Investments.  Fields was under internal investigation by his brokerage firm, whereby he allegedly admitted that he borrowed from two customers.  Generally, financial advisors cannot borrow money from clients, with limited exceptions, and the advisor must get prior approval to borrow money from clients.

Sean Fields held his securities license with PFS Investments from 2015 to January 2024.  He also held his insurance licenses with Primerica Financial Services.

FINRA Rule 3240 provides for circumstances in which an advisor can borrow from a customer.  Moreover, under FINRA Rule 3111, Brokerage firms are required to have written supervisory and compliance procedures.  If the firm failed to reasonably supervise its representatives, it may be liable for customer losses.

Our firm has represented numerous investors throughout California and have sued dozens of brokerage firms in the past, including PFS Investments.

View BrokerCheck report here.

If you lost money with Sean Fields or PFS Investments, please Contact Us at 206-795-5798 for a free evaluation of your case.